The court dismissed a writ challenge to SARFAESI proceedings where the bank claimed the petitioner had failed to liquidate outstandings within the interim period granted for the sale of timber. The writ petition was rejected with costs.
Writ petition dismissed with costs fixed at Rs.15,000- recoverable from the petitioner.
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IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT :
THE HONOURABLE MR. JUSTICE THOTTATHIL B.RADHAKRISHNAN
WEDNESDAY, THE 25TH MARCH 2009 / 4TH CHAITHRA 1931
WP(C).No. 2917 of 2009(V)
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PETITIONER:
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JANARDANAN, S/O.CHAKRAPANI, TC 27/1294-1, VANCHIYOOR, THIRUVANANTHAPURAM.
BY ADV. MR.V.SURESH.
RESPONDENTS:
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1. STATE BANK OF TRAVANCORE, KAITHAMUKKU BRANCH, THIRUVANANTHAPURAM , REPRESENTED BY ITS CHIEF MANAGER, (ADVANCES).
2. AUTHORISED OFFICER, STATE BANK OF TRAVANCORE, KAITHAMUKKU BRANCH, THIRUVANANTHAPURAM.
R1 & R2 BY MR. M.PATHROSE MATTHAI, SENIOR ADVOCATE. MR. SAJI VARGHESE, S.C.
THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 25/03/2009,THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
prv.
THOTTATHIL B. RADHAKRISHNAN, J.
= = = = = = = = = = = = = = = = = = = = = = = =
W.P.(C).No.2917 of 2009-V
= = = = = = = = = = = = = = = = = = = = = = = = Dated this the 25th day of March, 2009.
JUDGMENT
The petitioner is a debtor of the first respondent. After obtaining Ext.P2 decree, including an order of attachment of the timber stocked by the petitioner and an item of immovable property. The bank initiated action under the SARFAESI Act against the timber and also the immovable property.
This writ petition is filed projecting that even the sale of the timber would be sufficient to satisfy the outstandings. Hence, an interim order was issued on 28.1.2009 deferring the action against the immovable property and giving the petitioner opportunity to sell off the timber by obtaining remittance of the entire sale consideration to the bank and thereby, to wipe
WP(C)2917/09 -: 2 :-
off the outstandings. Today, the petitioner states that following an advertisement made by him, he had different purchasers for the timber, all of whom went to the bank on his instructions, but failed to come back. Obviously, the intention of the interim order was to give the petitioner two weeks' time to liquidate the outstandings. The petitioner has only tried to take more time without satisfying his obligations. I do not find any jurisdictional error or legal infirmity in the impugned proceedings. This writ petition is hence dismissed with costs, including Advocate's fee fixed at Rs.15,000/- which amount the bank may add on to the amounts due and recoverable under the SARFAESI Act.
THOTTATHIL B. RADHAKRISHNAN, JUDGE.
Sha/250309
1 issue framed by the court
Whether the impugned proceedings under the SARFAESI Act against the petitioner's immovable property suffered from any jurisdictional error or legal infirmity.
Janardanan
State Bank of Travancore
Thottathil B. Radhakrishnan
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
